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. >>> washington watchdog. jon karl finds hundreds of millions of taxpayer dollars wasted. >>> lesson from the tape a little boy disappears. his first time walking home from camp. a new insight for parents about when a child should be out alone. >>> healthy living. a big change in what your doctor should be doing for you. dr. richard besser on the secrets of getting the health care you deserve. >>> and, watch out, world. the american girls who took the prize at the biggest, toughest science competition in the world. >>> good evening. for the fifth time this week, republicans and democrara were squabbling and arguing about what to do, as the clock keeps ticking down. the august 2nd deadline, when america will default on paying its debts to the world, which would cause a body blow to the american economy. the president said today he knows that people are stressed out by thaticking clock, and across the countryrywe heard it. so many people saying, this is exactly the reason they're frustrated with the way washington works. and abc's jim avila starts us off. jim? >> reporter: diane, wall street is nerv
a partnership, but jon karl is in washington, and the speaker fired off a letter just before we came on the air tonight.t. >> reporter: that's right. the speaker and the president were on the veshlg of a histori deal that would have cult spending by $3.5 trillion, dealt with the debt crisis and raised the debt ceiling. now, the speaker fired off this letter, saying the deal, the talks are over. he says it has become evident that the white house is simply not serious about ending the spending binge. in the end, the speaker writes, we could not connect. i'm told this broke down over a disagreement over how much to raise tax revenues. >> and jon, the president said he was going to fire back, too, here's what the president just said, we'll get your reaction here. >> we have run out of time and they are going to have to explain to me how it is that we are going to avoid default. and they can come up with any plans that they want and bring them up here and we will work on them. the only bottom line that i have is that we have to extend this debt ceiling through the next election. >> jon, you can almo
situation. for the latest we begin with jon karl. jon, you broke the story of this framework late last night. this morning we were all told the leaders were going to inform their rank and file members of the details this afternoon, but hour after hour has gone by. the briefings haven't taken place, there's no final deal. >> the reason why it hasn't happened is because they have a few minor issues to be worked out. i'm told they are relatively minor issues. once that happens, the hard work happens, which is they have to convince enough rank and file democrats and republicans to support the bill to get it passed. a rare sunday on capitol hill. senators rushing to work and even rarer these days, the leaders actutually smiling. they finally have come together. congressional leaders and the president on a debt plan. it looks like this. a debt ceiling increase of up to $2.4 trillion. that's enough to last through the presidential election. agreement on up to $1.2 trillion in spending cuts over 10 years. a new congressional committee to recommend additional deficit reduction of up to $1.5 trillion.
political correspondent, jon karl, has been on this story every step of the way. and he leads us off, once again, tonight. jon, good evening to you. >> reporter: good evening, dan. well, the house and the senate have spent the last 24 hours on a series of showboats on bills that don't have a chance of passing. but republican leaders say they're fully engaged with the white house. and have spoken with the president this afternoon to try to find a way to break the impasse. finally, signs of progress. >> i'm confident and optimistic that we're going to get an agreement in the very near future and resolve this crisis. >> despite our differences, we're dealing with reasonable, responsible people, who want this crisis to end as quickly as possible. and i'm confident we will. >> reporter: you wouldn't know it by looking at what congress is actually doing. >> the american people are looking for a real solution. >> reporter: the house spent the day voting down the bill offered by senate democrats, even though the senate hadn't passed it yet. >> there is absolutely no excuse for this reckless, unpat
to jon carl who first breck this story, the story of a framework last night. jon, dan used the word at the top of the broadcast, the emphasis here is on "fragile." >> that's right. the details are still being worked out. you know how important the details are, and nobody has signed on the dotted line yet. but i am told congressional leaders will brief their membership on the framework of this tentative deal later this morning. >> majority leader. >> late last night, senate majority leader, harry reid called off a vote on the debt ceiling plan, citing progress towards a deal. >> i'm glad to see this move toward cooperation and compromise. i hope it bears fruit. >> reporter: congressional sources tell abc news that two sides have tentatively agreed to a framework that includes a debt ceiling increase of up to $2.4 trillion, enough to last through the presidential election. agreement on more than $1 trillionon ispending cuts in the next ten years and a new special congressional committee to recommend additional deficit reduction of more than a trillion dollars. if congress doesn't act
talk couldn't get the votes. they pulled it shortly before midnight. jon karl is watching it all from capitol hill. the speaker says he'll try again today. >> reporter: he will, but, gege, this debt ceiling crisis has become a political crisis for republicans. boehner will convene all 240 house republicans this morning to make one final push for it. but the reason he pulled the bill last night is he just couldn't get enough republicans to pass his own bill. republican leaders worked late into the night trying to get the votes to pass their own debt ceiling bill. reporters swarmed around utah republican jason chafitz. he told us he's still not sure. >> i'm surprised they are not twisting and ripping arms off. >> reporter: the speaker said he can't do his job if you respect there to support him. >> i am fully supportive of the speaker. i just can't support his bill but i do support the speaker. >> reporter: but for speaker of the house john boehner, the political stakes could not be higher. >> his leadership of the republicans in the house and being speaker is clearly at stake here if h
that to happen. >> with that let me bring in our team. jake tapper, jon karl on capitol hill. jon, given the deadlock, the senate republican leader mitch mcconnell says he doesn't think a deal can be reached so calm up with a last-ditch fallback. >> reporter: last choice option, only if the talks completely collapse. it's complicated but the bottom line is, it would give the president the authority on his own to gradually raise that debt ceiling by $2.5 trillion between now and the election. the political burden is all the president's. he can do it without spending cuts and even in the face of opposition from the majority in congress. i talked to a lot of republicans in the house, rank and file, who say it's not acceptable. they want real spending cut, a lot of them and nothing else. >> there's no guarantee of spending cuts even though it would avoid tax increases. any openness in the white house to that and where do they think the talks are right now? are they as pessimistic as mr. mcconnell? >> reporter: well, mcconnell's deal sent two signals to the white house, one, good news to them
Search Results 0 to 6 of about 7

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